Posted on May 29 2020
There’s an interesting development now seen in Canada immigration. There’s a steady increase in the number of new permanent residents making an entry into the country via Canada’s Start-up Visa program.
A jump from 250 immigrants arriving this way in 2018 to 510 new permanent residents in 2019 is clearly showing a positive trend in the making. The Start-up Visa program offers qualified immigrant entrepreneurs with permanent residence in Canada.
The number of immigrants taking advantage of this program has been showing a steady increase over its last 5 years.
The program that was conceived as a 3-year pilot program became one of the permanent solutions to the question “how to immigrate to Canada?” in 2018.
The private sector investors in Canada find this program a good source of innovative entrepreneurs. These investors help the immigrants set up their start-up businesses in Canada.
Before qualifying for a permanent residence, these start-up entrepreneurs arrive in Canada with a Canada work visa. They will have the support of their designated investor based in Canada.
The types of private sector investors can be classified into:
Candidates owning a qualifying business must get a Commitment Certificate and Letter of Support from a designated entity. This is to prove that they have enough settlement funds. The candidates must also be proficient in English or French. Their minimum Canadian Language Benchmark level required is 5.
Though the candidate would start his/her work in the business by applying for a short-term work permit, they can in time apply for a permanent residency. The candidate will qualify for this when:
4-6 months is the time required to get a commitment certificate or letter of support from a designated entity for a viable start-up business.
Upon receiving the letter of support, the candidate can apply for permanent residence. It will take another 18 months to get a PR visa issued.
If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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